Vehicle Appraisal for Estate Tax
Vehicle appraisal services for estate tax covering IRS Form 706 valuation as of the date of death or the alternate valuation date, prepared to meet IRS reporting requirements and in accordance with USPAP. Chrome Auto Appraisers values cars, classic and collector cars, trucks, trailers, RVs, and motorcycles held in estates nationwide.
Form 706 vehicle values are stated as of the date of death, or as of an alternate date six months later when the executor elects it
Chrome Auto Appraisers prepares vehicle appraisals for estates that file IRS Form 706, the federal estate tax return. Each vehicle the decedent owned at death, from a daily driver to a collector car, is reported at fair market value, and our appraisers conclude that value from documented sales of comparable vehicles in accordance with USPAP. The Form 706 instructions explain how property is valued and reported on the return.
The valuation date is the date of death unless the executor elects the alternate valuation date, which falls six months after the date of death. That election belongs to the executor and the estate's tax advisor, and the Form 706 instructions describe when it is available. Tell us which date applies and we state each vehicle's value as of that date. IRS Publication 559 gives executors and administrators a plain-language overview of settling an estate.
Date-of-death value
Fair market value stated as of the date of death, the default valuation date for Form 706.
Alternate valuation date
Value stated as of six months after death when the executor and tax advisor elect it.
Estates with several vehicles
One scoped engagement that states a separate value for each car, truck, trailer, RV, or motorcycle.
Collector vehicles
Classic and collector cars valued against comparable collector sales, with originality and restoration documented.
An estate tax vehicle appraisal starts with the vehicle list and the date of death, confirms which valuation date applies, and ends with a USPAP report for Form 706
- 01
Send the vehicle list and the date of death
Provide the year, make, model, and VIN of each vehicle, the date of death, and any photos and records you have.
- 02
Tell us which valuation date applies
Confirm whether the executor and tax advisor are using the date of death or the alternate valuation date, so we state each value as of the right date.
- 03
Name your filing date
Give us the Form 706 due date or any extended date. We confirm up front whether we can meet it, and expedited service is available.
- 04
We appraise and report
Our appraisers research comparable sales for each vehicle and deliver a USPAP report stating each value, under a fixed fee quoted before work begins.
Form 706 uses the date of death or an elected alternate date, and estates with several vehicles or collector cars get each value stated separately with its market support
Which date does Form 706 use to value a vehicle?
Form 706 values estate property as of the date of death unless the executor elects the alternate valuation date, which is six months after death. The Form 706 instructions describe both dates, and the election is a decision for the executor and a tax advisor.
What if the executor has not yet decided on the alternate valuation date?
Tell us in your request, and we can scope values as of both dates so the executor and tax advisor can compare them before deciding. Each date is stated separately in the report.
How are the values presented when an estate holds several vehicles?
Each vehicle receives its own stated value, so the executor and tax advisor can enter them individually on the return. List every car, truck, trailer, RV, and motorcycle with its VIN and we scope them together.
How is a collector car in an estate valued for Form 706?
It is compared with sales of similar collector cars, with adjustments for originality, restoration quality, and documentation. Send restoration records, ownership history, and dated photos to support the comparison.
Request a Form 706 vehicle appraisal with the valuation date and your filing date confirmed up front
Share the vehicles, the valuation date, and your filing date, and we confirm timing and fee before work begins.